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PCE Index rises

An inflation index known as PCE rose 0.1% in February, bringing the increase over the past 12 months to 2.1%. It’s the first time the yearly rate of inflation topped 2% since March 2012. The PCE index is the preferred tool for the Federal Reserve to measure inflation. The rate of inflation is now above Fed’s 2% long-term target, a potential trigger for more increases in interest rates in the months ahead.